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  • Enhanced AFS

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    ChiYinPhin
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    The Agency Financing Scheme (AFS) provides financing to new recruits to help build their business with Prudential. It aims to attract professionals to become full-time agents. The current AFS model provides a full monthly allowance for the first 9 months, but then it drops steeply, negatively impacting income. The new tapered AFS model proposes gradually reducing the monthly allowance over 15 months to provide a more steady income stream. This will replace the current model and help recruits be successful in the long run.

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    The Agency Financing Scheme (AFS) provides financing to new recruits to help build their business with Prudential. It aims to attract professionals to become full-time agents. The current AFS model provides a full monthly allowance for the first 9 months, but then it drops steeply, negatively impacting income. The new tapered AFS model proposes gradually reducing the monthly allowance over 15 months to provide a more steady income stream. This will replace the current model and help recruits be successful in the long run.

    Copyright:

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    7 views6 pages

    Enhanced AFS

    Uploaded by

    ChiYinPhin
    The Agency Financing Scheme (AFS) provides financing to new recruits to help build their business with Prudential. It aims to attract professionals to become full-time agents. The current AFS model provides a full monthly allowance for the first 9 months, but then it drops steeply, negatively impacting income. The new tapered AFS model proposes gradually reducing the monthly allowance over 15 months to provide a more steady income stream. This will replace the current model and help recruits be successful in the long run.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    of 6

    Agency Financing Scheme - Enhanced

    What is AFS?
     A financing scheme to aid new recruits in
    building up their business with Prudential

    Why AFS?
     To aid you in attracting professionals to
    become full time QA
    Agency Financing Scheme - Enhanced

    Monthly NCB Production Min 1st Q


    Allowance Production
    RM 5,000* RM 72,000 RM 36,000
    RM 4,000* RM 58,000 RM 29,000
    RM 3,000 RM 43,000 RM 21,500
    RM 2,500 RM 36,000 RM 18,000
    RM 2,000 RM 29,000 RM 14,500
    RM 1,500 RM 22,000 RM 11,000
    RM 1,000 RM 15,000 RM 10,000
    * Pending for Bank Negara Malaysia approval
    Current AFS Income Modeling
    Based on RM3,000 Financing and 150,000
    Annual Production (Nett NBAPI)
    9,000

    8,000

    7,000 Steep Drop!!


    t r o d u c ed
    6,000
    d e l i s in
    mo !
    Income (RM)

    p e r e d im p a c t !
    5,000 Ta n t h e
    4,000 to softe
    3,000

    2,000

    1,000

    Month0
    11th Mth

    17th Mth
    1st Mth

    5th Mth

    7th Mth

    9th Mth

    13th Mth

    15th Mth

    19th Mth

    21st Mth

    25th Mth

    27th Mth

    29th Mth

    31st Mth

    35th Mth
    3rd Mth

    23rd Mth

    33rd Mth
    Tapered Income Modeling
    Based on RM3,000 Financing and 150,000
    Annual Production (Nett NBAPI)
    9,000

    8,000

    7,000

    6,000 Relatively Steady


    Income (RM)

    5,000
    Stream!!
    4,000

    3,000

    2,000

    1,000

    Month0
    11th Mth

    17th Mth
    1st Mth

    5th Mth

    7th Mth

    9th Mth

    13th Mth

    15th Mth

    19th Mth

    21st Mth

    25th Mth

    27th Mth

    29th Mth

    31st Mth

    35th Mth
    3rd Mth

    23rd Mth

    33rd Mth
    Introduce Tapered Financing Model

    Current Tapered Current Model Tapered Model


    Financing – 3k Example – 3k Example
    Model Model
    1st to 9th Financing 100% 100% RM3,000 RM3,000

    10th Financing 100% 85% RM3,000 RM2,550

    11th Financing 100% 75% RM3,000 RM2,250

    12th Financing 100% 55% RM3,000 RM1,650

    13th Financing - 40% - RM1,200

    14th Financing - 30% - RM900

    15th Financing - 15% - RM600

    Total Financing - - RM36,000 RM36,000


    PRUessential

    PRUformula 1 PRUessential
     PF1 will be replaced with PRUessential, PRUessential Plus & 2
    elective courses

     PRUessential  enrol within the first 2 months

     PRUessential Plus  enrol before the 10th months

     PRUessential fees = RM600

     PRUway training will be included in PRUessential

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